DP World is going big on spending towards London Gateway Port to lead the trading future of Europe's largest consumer market. Image Credit: Gulf News Archives

Dubai: DP World will invest £300 million on a fourth berth at its London Gateway hub. The investment aims to increase supply chain “resilience and create more capacity for the vessels”.

The new funds add to the £2 billion investment that DP World has made in Britain in the last 10 years .

“As a central pillar of Thames Freeport, London Gateway’s new fourth berth will allow customers to benefit from ports and logistics on the doorstep of Europe’s largest consumer market,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World. “DP World plans to be at the heart of Britain’s trading future and this investment shows that we have the ambition and the resources to boost growth, support businesses, create jobs and improve living standards.”

Along with the Port of Tilbury and Ford’s Dagenham plant, DP World London Gateway will form Thames Freeport after being awarded freeport status by the UK Government earlier this year. DP World Southampton has also been awarded freeport status as part of Solent Freeport.

In the first six months of 2021, London Gateway saw record throughput of 888,000 TEU. This is a more than 23 per cent increase on the previous best performance for the first-half of a year. The new fourth berth will raise capacity by a third.

The completion will coincide with the delivery of a new wave of 24,000 TEU vessels in 2023-24, which will all be operated between Asia and Europe.